- De Grey Mining (DEG) reports a “major” strike and depth extension to the mineralisation at the Diucon deposit within its Hemi prospect in Western Australia
- The company says results from extension and infill drilling increased mineralisation by approximately 120 metres along-strike and 400 metres down-plunge to the west of its May 2022 mineral resource estimate
- Results from the program include 14.1 metres at 3.1 g/t gold from 750 metres, showing “strong potential” to extend Diucon’s 1.6-million-ounce mineral resource
- The company says it will begin further exploration drilling this quarter, followed by shallow reverse circulation drilling west of Diucon
- De Grey Mining shares are trading at $1.42 at 10:44 am AEDT
De Grey Mining (DEG) has reported a “major” strike and depth extension to the mineralisation at the Diucon deposit within its Hemi prospect in Western Australia.
The company said results from recent extension and infill drilling showed the Diucon mineralisation intrusion had been intersected over a strike of approximately 560 metres, a depth of 900 metres, and a true thickness of around 300 metres.
This means the mineralisation has been extended along-strike by around 120 metres and down-plunge by at least 400 metres to the west of De Grey’s May 2022 mineral resource model and remains open.
Results from the program included 75 metres at 1.1 grams per tonne (g/t) gold and 72.3 metres at 1.4 g/t gold, at a 0.3 g/t gold lower cut, including 15.1 metres at 1.6 g/t gold from 599 metres.
Further hits included 14.1 metres at 3.1 g/t gold from 750 metres and 12.6 metres at 2.8 g/t gold from 779.7 metres.
The company said further exploration drilling would now focus on identifying these inflections near surface within open-pit depths and would begin this quarter.
“This work has strong potential to extend Diucon’s current 1.6-million-ounce mineral resource,” De Grey General Manager Exploration Phil Tornatora said.
“Higher grade zones, often showing visible gold in quartz continue to support the potential for underground mining below open pit depths.”
In addition to diamond holes to follow up deeper mineralisation, shallow reverse circulation (RC) drilling has been planned west of Diucon to follow up results from aircore and RC drilling at Antwerp.
De Grey Mining shares were trading at $1.42 at 10:44 am AEDT.